大明电子股份有限公司首次公开发行股票并在主板上市投资风险特别公告

Core Viewpoint - Daming Electronics Co., Ltd. has received approval for its initial public offering (IPO) of A-shares, with a total issuance of 40.001 million shares at a price of 12.55 yuan per share, which corresponds to a price-to-earnings (P/E) ratio of 16.02 times based on the 2024 earnings forecast [1][4][5]. Summary by Sections Issuance Details - The IPO application has been approved by the Shanghai Stock Exchange and the China Securities Regulatory Commission [1]. - The total number of shares to be issued is 40.001 million, all of which are new shares for public offering [1]. - The issuance will take place on October 24, 2025, through both the Shanghai Stock Exchange trading system and an internet trading platform [1]. Pricing Mechanism - The issuance will combine strategic placement, offline inquiry pricing, and online public offering [2]. - The final issuance price is set at 12.55 yuan per share, determined after evaluating market conditions and investor demand [4][10]. - The price corresponds to a P/E ratio of 16.02 times based on the earnings before non-recurring items [5]. Investor Participation - Investors participating in the strategic placement will be selected based on their qualifications and market conditions, focusing on large enterprises with strategic cooperation [2]. - The offline issuance will not involve cumulative bidding, and the pricing will be based on preliminary inquiries [3][4]. Financial Projections - The expected total fundraising amount from the IPO is approximately 502.0126 million yuan, exceeding the previously stated fundraising requirement of 400.0659 million yuan [11]. - The net proceeds after deducting issuance costs are projected to be around 423.8220 million yuan [11]. Market Comparison - The P/E ratio of 17.97 times based on diluted earnings is lower than the average P/E ratio of 30.42 times for the automotive manufacturing industry as of October 21, 2025 [9][7]. - The pricing is also below the median and weighted average of remaining quotes from offline investors [7]. Lock-up Periods - For offline investors, 10% of the allocated shares will have a lock-up period of 6 months, while 90% will be tradable immediately after the listing [12]. - Strategic placement investors will face a 12-month lock-up period for their allocated shares [12].